Rohan Holdings begins delivery of 165,000sq of logistics space along M50
Speculative development follows 250,000sq ft of letting activity within the past 12 months
Rohan Holdings has commenced construction of a further 120,000sq ft of industrial and logistics space at its flagship Dublin Airport Logistics Park (DALP).
While the company has a long-standing record for embarking on speculative development, the decision to proceed with the delivery of two new units has been informed by the strength of letting activity across its various schemes over the last 12 months. Taken together, Rohan Holdings has secured occupiers for some 250,000sq ft of space within the past year.
The most recent of these deals saw Harvey Norman take an additional 40,000sq ft at North City Business Park. Rohan had already delivered a 50,000sq ft unit for the retailer at the end of last year.
At Dublin Airport Logistics Park, Rohan has appointed Eamon Costello (Kerry) Ltd to deliver a 70,000sq ft unit and a 50,000sq ft unit. Both units will benefit from substantial profile onto the M2 motorway, and will feature air-conditioned offices, 12m eaves, 50m yards, and a commitment to sustainability (including LEED accreditation). Rohan is quoting a rent of €10.45 per sq ft and expects to secure occupiers for both buildings prior to their completion in the final quarter of 2021.
Dublin Airport Logistics Park is widely acknowledged within Ireland’s logistics sector as unrivalled. Located less than a two-minute drive from the M50 and the country’s wider motorway network, 250m from Dublin Airport’s campus, and 2km from the Dublin Port Tunnel, the scheme is home to a number of leading companies such as DHL, GeoPost, Gilead, DNATA, Gate Gourmet and Holland & Barrett.
Over in North City Business Park meanwhile, Rohan is aiming to deliver two semi-detached LEED-accredited units of 25,000sq ft and 20,000sq ft that can be combined to form a 45,000sq ft detached building. With BWG, Parcel Motel, Hilti and Harvey Norman already established in the park, Rohan has recently enhanced the scheme’s access on to the N2, providing occupiers with more efficient access to the M50, the M1, Dublin Port Tunnel, and Dublin city centre.
With an LEED ‘silver’ building typically saving the occupier around €2 per sq ft per annum in running costs when compared to a 20-year old building, the €10.80 per sq ft Rohan is quoting for the two new units is expected to offer occupiers a more economical alternative to secondary stock .
Elsewhere, at North Ring Business Park in Santry, Rohan have recently leased units to international adhesives specialist Dymax, home fittings supplier Hafele and UK cosmetics group Essens. Also in Santry, Roccul is refurbishing two units for Rohan with a combined area of just under 30,000sq ft in their Airways Industrial Estate, one of which is completed and the other is due in the coming months.
Commenting on the company’s recent activity, John Casey, head of asset management at Rohan Holdings, said: “We are pleased that the quality and location of our parks continues to attract leading occupiers for all unit sizes. Our commitment to deliver environmentally-conscious buildings aligns well with occupier and investor demands for buildings at the forefront of sustainable design. Leveraging these factors, we have already commenced the design phase for our next 200,000sq ft of units that will follow the current four.”